Announcement
Announcement
Announcement # 21-29
Date: September 20, 2021
Topic: Conforming High Balance Now Available in all states & counties up to
$625k
In anticipation of the Agency loan limit increase for 2022, PennyMac is supporting our broker
partners by offering conforming high balance loan amounts up to at least $625,000 in all states
and counties except New York state, effective with locks on or after Tuesday September 21,
2021.
Rest assured, counties with high cost limits for 2021 that are already greater than $625,000 are
not changing. PennyMac will also be increasing the conforming loan limit for 2-4 units.
2021 Loan Limit
2021 Loan Limit
2021 Loan Limit
2021 Loan Limit
1 Unit
2 Units
3 Units
4 units
$548,250
$702,000
$848,500
$1,054,500
PennyMac
Expanded Limit
1 Unit
PennyMac
Expanded Limit for
2 Units
PennyMac
Expanded Limit for
3 Units
PennyMac
Expanded Limit for
4 Units
$625,000*
$800,250*
$967,250*
$1,202,000*
*See attached spreadsheet for Alaska and Hawaii as PennyMac¡¯s newly expanded loan limits
are higher for these states.
Notes:
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DU and LPA will return an ineligible result. PennyMac will accept Approve/Ineligible
(DU) and Accept Ineligible (LPA) due only to the loan amount in excess of the 2021
limits.
A full appraisal is required for the expanded loan limits. Appraisal waivers are not
allowed with an ineligible decision. In areas where the PennyMac loan limits are within
the current 2021 high cost limits, appraisal waivers remain eligible.
PennyMac expanded loan limits will NOT be supported by pricing engines. Please price
your scenarios through POWER.
pg. 1
Announcement
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Loans in excess of current 2021 county limits, and up to PennyMac expanded loan
amounts, will be eligible and priced as Conforming High Balance.
If you have a loan in process and would like to increase your loan amount, follow the
CIC process. Please consider the time and cost involved in obtaining an appraisal prior
to changing the loan amount for transactions with appraisal waivers.
For loan amount increases utilizing our new expanded loan limits, it is critical that you
reprice loans in POWER since these will receive high balance pricing that is not reflected
in pricing engines.
Please use the attached sheet to determine the maximum loan amount under PennyMac¡¯s
Expanded Loan Limits.
If you have any questions, please contact your sales representative.
Equal Housing Opportunity ? 2008-2018 PennyMac Loan Services, LLC, 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361,
(818) 224-7442. NMLS ID # 35953 (). Trade/service marks are the property of PennyMac Loan
Services, LLC and/or its subsidiaries or affiliates. Information is intended solely for mortgage bankers, mortgage brokers, and
financial institutions. Not intended for distribution to consumers, as defined by Section 1026.2 of Regulation Z. Arizona Mortgage
Banker License # 0911088. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending
Act. Colorado: Regulated by the Division of Real Estate. Georgia Residential Mortgage Licensee #33027. Illinois Residential Mortgage
Licensee # MB.6760595. Massachusetts Mortgage Lender License # ML35953. Minnesota: This is not an offer to enter into an
agreement and an offer may only be made pursuant to Minn. Stat. ¡ì47.206 (3) & (4). Licensed by the N.J. Department of Banking
and Insurance. Rhode Island Lender License # 20092600LL. Washington Consumer Loan License # CL-35953. Commercial real estate
loans made or arranged pursuant to a California Financing Law license #60DBO-46246. For more information, please visit
. Loans not available in New York. Some products may not be available in
all states. Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services,
LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other
restrictions apply. All rights reserved.
pg. 2
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